Erika Lance, a 10-year employee of Nationwide Title Clearing (NTC), was promoted to chief information officer (CIO). According to the National Center for Women and Information Technology, women account for just 6 percent of the chief executives of the top 100 tech companies, and 22 percent of the software engineers at tech companies overall.
Myron Finley of NTC talks about company milestone
Prior to her promotion, Lance served in other management positions. She has worked in human resources, the legal department, client relations and overall organization within NTC.
“As someone who has seen the ins and outs of NTC as well as the industry for over 10 years, I feel confident about bringing my experience into the role of CIO,” Lance said. “Furthermore, as a woman, it is a privilege to serve in a leadership role in a field such as IT.”
The tech industry long has faced a shortage of women working in the industry, particularly in leadership roles, according to the company announcement. Of CIO jobs at Fortune 250 companies, only 20 percent were held by women in 2012, a disparity further highlighted when juxtaposed with the fact that 57 percent of occupations in the workforce are held by women.
CEO John Hillman said Lance was chosen for the position of CIO because of her intimate knowledge of the process flows and system structure for the services NTC provides. From her experience in the company, she has had the opportunity to gain a valuable perspective of NTC clients and what they require from NTC.
NTC also announced the completion of a SSAE 16 (SOC 1) Type 2 audit of its mortgage processing services for the period of July 1, 2014 through Dec. 31, 2014.
The Statement on Standards for Attestation Engagements No. 16 (SSAE 16), also known as the Service Organization Controls Report No. 1 (SOC 1), was formerly known as the Statement on Auditing Standards No. 70 (SAS 70). Through actions of the Auditing Standards Board of the American Institute of Certified Public Accountants, SSAE 16 superseded the SAS 70 audit standard in mid-2011. It is the adopted version of the International Standards for Assurance Engagements (ISAE) No. 3402, Assurance Reports on Controls at a Service Organization, for use in the United States.
To ensure that it remains in compliance with the standards promulgated by these governing bodies, NTC regularly engages auditors to conduct SSAE 16/SOC 1 examinations. The key operational components that were reviewed in the recent examination included NTC’s general management controls, risk management, information security and communications systems.
“Our successful completion of a Type No. 2 SOC 1 review shows current and future clients that NTC has undergone a rigorous examination by an independent third party to ensure that it continues to meet attestation standards set by the American Institute of Certified Public Accountants,” NTC’s VP of Risk Management William Borde said.
Going to the next level of compliance with SSAE, SOC Part I